Zurcher Kantonalbank Zurich Cantonalbank Grows Position in ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ITT Inc. (NYSE:ITT) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,772 shares of the conglomerate’s stock after buying an additional 822 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ITT were worth $2,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Natixis Advisors L.P. grew its stake in shares of ITT by 28.7% in the 3rd quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after purchasing an additional 16,614 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of ITT by 198.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock valued at $6,302,000 after purchasing an additional 42,767 shares during the last quarter. Raymond James & Associates grew its stake in shares of ITT by 17.0% in the 4th quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock valued at $8,903,000 after purchasing an additional 10,853 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of ITT by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock valued at $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after purchasing an additional 195,111 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $125.75 on Tuesday. The stock has a fifty day moving average price of $128.37 and a 200 day moving average price of $116.89. The stock has a market cap of $10.34 billion, a PE ratio of 25.35, a P/E/G ratio of 1.71 and a beta of 1.43. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. ITT’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. As a group, equities research analysts predict that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.319 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.01%. ITT’s payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

ITT has been the topic of several analyst reports. Citigroup lifted their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. KeyCorp raised their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. DA Davidson raised their price target on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus raised their price target on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $135.57.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.